Blockchain 

Wyoming Unveils First-Ever Crypto Custody Rules for ‘Blockchain Banks’

The United States’ state of Wyoming has unveiled a series of opt-in custody rules for its so-dubbed “blockchain banks,” covering areas such as forks, airdrops and staking.  The rules were announced during the Fordham Law Blockchain Regulatory Symposium in New York on Nov. 11, according to a thread of tweets published by Wyoming Blockchain Task Force president Caitlin Long. “First-ever” regulatory provisions for crypto custodians in many areas  Wyoming’s “blockchain banks” — legally known as “special purpose depository institutions” (SPDIs) — were approved by the Wyoming state legislature in February…

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Blockchain 

VeChain Unveils Food Tracing Solution Foodgates at China’s Import Expo

Singapore-based blockchain application platform VeChain has unveiled a new blockchain tracking system for the food and beverage industry. In a blog post on Nov. 7, the company confirmed it was working with food certification group DNV GL and supply chain specialist ASI Group on the project, known as Foodgates. VeChain “direct beneficiary” of pro-blockchain stance The original announcement came at this year’s China International Import Expo (CIIE), being held from 5-10 Nov. in Shanghai. “The immutability of public blockchain coupled with verifiable information makes this solution really unique,” VeChain COO…

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Cryptocurrency 

Unveils Platform for Minting Enterprise

It goes without saying that the blockchain industry has come a long way over the last decade, and it is no wonder that an idea like that of blockchain tokens is finally taking concrete shape. In a new development that is going to cause waves in the crypto sphere, tech behemoth Microsoft announced that it is going to create a platform that is going to help create crypto tokens with ease. Microsoft has stated that creating crypto tokens is going to be made far easier through this platform, and it…

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Blockchain 

Chinese Guangzhou Gov’t Unveils $140M Blockchain Subsidy Fund

The Guangzhou government has announced a $140 million subsidy fund to encourage the development of blockchain initiatives. The local authorities are reportedly planning to spend 1 billion yuan ($141 million) to selectively sponsor two blockchain-related projects per year, according to a tweet of a senior exec at crypto investment holding firm Primitive Ventures. “No-coin” public chains Citing a report by Beijing-based media outlet Caijing on Oct. 30, Primitive Ventures’ co-founder Dovey Wan emphasized that the government is specifically planning to support two types of blockchain-related projects:  federated chain projects and…

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Blockchain 

World Economic Forum Unveils ‘Mining and Metals Blockchain Initiative’

The World Economic Forum (WEF) and seven major mining and metals firms are partnering to develop responsible sourcing and sustainability practices using blockchain. The Global Mining Review reported details of the new “Mining and Metals Blockchain Initiative” on Oct. 25.  Advancing sustainability, transparency and efficiency The seven partners, together with the WEF, plan to pool their resources to experiment with, design and deploy joint proofs-of-concept as part of an inclusive blockchain platform. Rather than acting individually, the initiative aims to foster industry-wide trust through mutual cooperation and to tackle inadequate…

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Blockchain 

ConsenSys Unveils Ethereum-Based Satellite Tracker

Blockchain software technology company ConsenSys has unveiled Trusat, a satellite tracking application based on the Ethereum (ETH) network. According to the firm’s tweet posted on Oct. 22, Trusat aims to tackle the problem of space debris that could damage Earth’s space infrastructure. Tackling space debris with blockchain The initiative hopes that its app’s users will track satellites in the night sky and record their positions in order to help create a record. The application also indicates when and where to look for the highest priority marks. The company explained: “The…

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Bitcoin 

Casa Unveils New Solution to ‘What Happens to My Bitcoin When I Die?

New York-based crypto custody startup Casa has released a new security protocol and service focused on helping people address the question of Bitcoin (BTC) inheritance. The new offering, dubbed “Casa Covenant,” was revealed in an official blog post on Oct. 21. “What happens to my Bitcoin when I die?” Casa approaches the question of Bitcoin inheritance by highlighting three common positions users take currently: either not thinking about the issue at all, choosing to entrust their private key data with a close family member or friend, or using a third-party…

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Bitcoin 

ACINQ Unveils Its ‘2nd Generation’ Bitcoin Lightning Network Wallet

French Bitcoin (BTC) Lightning Network (LN) implementation developer ACINQ introduced its second-generation Lightning Network wallet, Phoenix, via Twitter, on Oct. 18. A video accompanying the post demonstrates a number of wallet functions, all accessed via a user-friendly interface. From setup to receiving and making payments in under a minute From a fresh install of the wallet app on an Android device, setting up a new wallet is a single click away. Although the new wallet has no open channels, it can still produce an LN invoice and receive funds. On…

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Blockchain 

EY Unveils Public Finance Blockchain to Track Gov’t Spending

Big Four auditing firm Ernst & Young (EY) has launched a blockchain platform for public funds meant to enhance transparency. Technology news outlet Verdict reported on the launch on Oct. 16. The OpsChain Public Finance Manager (PFM) system enables transparent tracking of public budgets and expenditures viewable by all citizens.  PFM will also reportedly enable public funds to be matched with outcomes, which in turn would provide insight into how effective different policies are. Enabling data-driven policy decisions The system can reportedly track government public funds as they move through…

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Blockchain 

Economic Dept. of Dubai Unveils Blockchain-Based Business Registry

The Department of Economic Development in Dubai has announced its move to a blockchain-based unified business registry platform (UBRP). According to a Saudi Gazette report on Oct. 7, the platform aims to improve the ease of doing business in Dubai and enable license issuers to manage trade licenses and corporate registries. The Silicon Oasis Authority, the Dubai Electricity and Water Authority, and Dubai Multi Commodities Centre have already joined the platform. The UBRP eventually aims to host a total of 40 government entities.  The solution is hosted on the blockchain-as-a-service platform called…

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